The Blockchain Group Issues €48.6M Convertible Bonds

The Blockchain Group has announced a successful issuance of convertible bonds worth €48.6 million, completed via its subsidiary, The Blockchain Group Luxembourg SA. These bonds are convertible into shares at €0.544 per share, a 30% premium over the volume-weighted average price. Strategic investors, such as Fulgur Ventures and Adam Back, subscribed to this issuance, which mostly involved Bitcoin.

This move is crucial for progressing their Bitcoin Treasury Company strategy, aimed at increasing Bitcoin holdings per share. The first funding round positions The Blockchain Group in the global top 30 publicly traded companies with significant Bitcoin reserves.

Spearheaded by Deputy CEO Alexandre Laizet, the strategy allocates 95% of raised funds to Bitcoin acquisition. Future conversions may see 89 million new shares issued, transforming business dynamics significantly. Terms include a 0% coupon and a five-year maturity. Conversion or repayment options allow flexibility, with share prices needing to reach 130% of the conversion threshold for action.